West Lake Home Furnishings Ltd. free essay sample

West Lake Home Furnishings Ltd. Written Analysis and Communication II Instructor Submitted by Section- D 2/08/2008 Date: May 30, 2007 To: Charles Bowman, CEO, West Lake Home Furnishings Ltd. , Ontario, Toronto. From Subject: Advice on whether to accept the offer of reducing the price of signature product to $29. 99 for a year. This report is a summary and analysis of current situation on West Lake Home Furnishings Ltd. (WLHFL) The analysis is based upon the basic objective of economics that is profit maximization. Based upon the present trend of consumer income and preference it is recommended that WLHFL should accept the offer to reduce the unit retail price to $29. 99. As a student of WIMWI, I thank you for providing opportunity to learn about the situation at WLHFL. This has taught me a lot. EXECUTIVE SUMMARY Whether to accept the proposal of one of the retailers, to reduce the price to $29. 99 by WLHFL, thereby boosting the sales, has to be evaluated on the basic objective of economics of a firm. We will write a custom essay sample on West Lake Home Furnishings Ltd. or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The main objective of the firm is to maximize the profit. In order to attain this at retail price of $29. 9, quantity of sales should increase to a substantial level. The present situation at Canada, higher disposable income with Boomer population and reduced price leads to higher demand of quantity are in favour of higher quantity of sales. The proposal ensures the required quantity of sales. Hence, accepting the proposal is recommended. Word Count: 107 Table of content SITUATION ANALYSIS.. 1 THE PROBLEM STATEMENT†¦. OPTIONS 2 CRITERIA FOR EVALUATION 3 EVALUATION OF OPTIONS.. 3 RECOMMENDATION. 6 ACTION PLAN.. EXHIBIT-1†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. i EXHIBIT-2†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã ¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. ii EXHIBIT-3†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. ii EXHIBIT-4†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. iii SITUATION ANALYSIS Outlook of Lighting and light fixtures industry in Canada The market for Lighting and light fixtures in Canada is quiet competitive. There is large number of firms having small market share. Hence, this market can be considered as a Monopolistic competition. Product differentiation enables West Lake Home Furnishings Ltd. WLHFL) to compete with other firms in three areas: product quality, price and marketing. Price plays a major role To have an impact on price, most of the firms have outsourced production to Asia, especially China. There are two new entrants in 2006, implies that still in the market there is scope for earning. Price plays a major role. It is reflected by average prices for home furnishing items had fallen down during 2002 to 2006 but sales had grown at 6. 1% of compounded average growth rate. Consumers in Canada Consumers in Canada are at the Esteem and Aesthetic needs level (see Exhibit 1). Due to which purchases from large â€Å"big-box† retailers get patronized. This makes large retailers in a strategically important position for the manufacturer like WLHFL. Significant trend which is at advantage for the industry is the Baby Boomer; they are now having higher disposable income and demand for home furnishings. Exhibit 2 suggests that Boomers’ earning will peak in 2015 for the Early Boomers (born from 1945 to 1954) at $90,000 per household, and in 2025 for the Late Boomers (born from 1955 through 1964) at $106,000. Present situation of WLHFL Sales Boost Considering the proposal of one of the top three wholesale customers, Sales boost is obvious as WLHFL will get the prominent shelf space. But we need to trade off between boosting sales and reducing retail price of signature product for all businesses. Objective of the firm The main objective should be maximising the profit. To maximize the profit, WLHFL should set a price and quantity where the marginal revenue equals the marginal cost . The exhibit 3 shows the graph for the output and price in long run for a firm in Monopolistic competition. Major hindrance The major hindrance in the cost increments are higher inventory to the tune of $1. 6 million, increase up to 20% in Sales, General, Administrative expenses (SGAE) and increase up to 150% in Shipping and Warehouse. Problem Statement Whether WLHFL should accept the proposal of reducing the retail price of a signature line of decorative lamps from $69. 99 to $29. 99 for a period of one year? Options 1. Accept the proposal to reduce the retail price to $29. 99. 2. Reject the proposal to reduce the retail price to $29. 99. Criteria for Evaluation 1. Profit maximization of WLHFL This is the primary criterion as the implications on the behaviour of the WLHFL can be reasonably accurate and avoid unnecessary analytical implications. 2. Effect on Large Chain Retailer’s relationship After evaluating the primary criterion, evaluating this criterion will have a long term effect on business of WLHFL. 3. Effect on Cash flows of WLHFL for the year 2007 This is a crucial criterion but can be considered only after evaluating the Retailers’ response to the change in unit retail sale price. Evaluation of Options 1. Accept the proposal to reduce the retail price to $29. 9. 1. Profit maximization of WLHFL As shown in the exhibit 3, to attain the profit maximization marginal revenue should be equal to marginal cost. Though, due to lack of complete information about the total demand in Canada for lighting and light fixtures, most of the calculations are approximated. The scenario I suggests that there is considerable increase in the net earnings and hence profit maximization is achieved. 2. Effect on Large chain Retailer’s relationship By accepting the offer, the Retailer who has proposed the offer will continue to do business with us. Consumers generally prefer large retail chains to purchase Home furnishing products, this move will ensure that we remain in the business with good size of market share. The reduced price information to other retailers as well as the consumer will reach in no time. And hence WLHFL will be forced to reduce the retail price not only for the wholesalers but also for consumers, who purchase at retail store and/or via internet. This in turn will have strong positive impact on Cash flow. 3. Effect on Cash flow of WLHFL for the year 2007 Looking at exhibit 4, the cash flow of the company with accepting the offer can result in two scenarios. One, in which the business grows as anticipated and second business grows at reduced anticipated rate. These are shown as Scenario I and Scenario II respectively. It has been observed that Scenario II leads to loss. But, there is an incentive to consider the Scenario I. The high disposable income with Boomer population and reduction in price increases demand for the product ensures that Scenario I is more probable than II. 2. Reject the offer to reduce the retail price t $29. 99. . Profit maximization of WLHFL By rejecting the offer, at present production level of WLHFL is not at the profit maximisation level. That is still there is a possibility of selling more products and maximising profit. There are two new entrants in 2006 which are specifically focusing on this opportunity. Rather than, they grab the opportunity, WLHFL should grab the opportunity. 1. Effect on Large chain Re tailer’s relationship Retailer who made the proposal will be reluctant to provide better shelf space and so do the other retailers, as the volumes provided by WLHFL are not high. Due to this, there is less possibility of reaching to the consumer’s mind. Hence, there is not anticipation of growth in sale in long term. Even there is a possibility that the retailer can purchase directly from Chinese manufacturer which can be availed at cheaper price. Opportunity cost is high, and hence rejection to offer is not recommended. 3. Effect on cash flow of WLHFL for the year 2007 If the WLHFL grows at average 10%, then there is positive cash flow. As retailers will not offer the better shelf space, it is difficult to attain. Also, due to new entrants and/or retailers themselves purchases directly from Chinese manufacturer will force to reduce the price. At this production level, reduction in price means negative cash flow. Recommendation Evaluating the options suggests accepting the proposal of reducing the retail price of a signature line of decorative lamps from $69. 99 to $29. 99 for a period of one year. Action Plan †¢Communicate to the retailer about the acceptance of offer. †¢Communicate to the other retailers about the reduction in price and negotiate on gaining better shelf space, lesser margin and more volume. Keep the working capital ready, to manage the high inventory level. †¢Prepare a projected production quantity and arrange the resources accordingly. Word count: 1098 Exhibit 1: Different stages in need hierarchy. Adapted from Maslow’s Hierarchy Needs. Exhibit 2: Boomers have earned more at every age than prior generations Source: http://www. mckinsey. com/mgi/publicat ions/Impact_Aging_Baby_Boomers/slideshow/ slideshow_2. asp Exhibit 3: Output and Price in the Long run for Monopolistic Competition. Source: Cowell, F A. (Dec. 2004). Microeconomics: Principle and analysis. London school of economics. Exhibit 4: Projected Cash Flow with various Scenario Projected Scenario for year 2007 2006Scenario IScenario IIScenario III Unit sale price of signature product$69. 99$29. 99$29. 99$69. 99 Per unit COGS$30$20$20$30 Sales1 Wholesale8,000,0001665711593005248800000 Store3,000,000750000045000003300000 Internet200,000500000300000220000 COGS27,057,000993879699387967,762,700 Gross Margin41430001471831941617274557300 As a % of Sales36. 99%59. 69%29. 51%36. 99% Sales, General, Adminstrative Expenses3,000,000360000036000003,300,000 Shipping and Warehouse830,00020750002075000913,000 Operating Income313,0009,043,319-1,513,273344,300 Income Tax109,5503,165,1620120,505 Net earnings203,4505,878,157-1,513,273223,795 Scenario IAccept the offer and business grows as anticipated in the proposal Unit sale from Retailor with proposal is 5 times the 2006 values Unit sale from other two retailers is 2. 5 times the 2006 values Retail store revenue growth is 2. 5 times the 2006 values Internet sale is 2. 5 times SGAEincrease by 20% SWincrease by 150% Scenario IIAccept the offer and business grows at reduced rate than anticipated in the proposal Unit sale from Retailor with proposal is 2. times the 2006 values Unit sale from other two retailers is 1. 5 times the 2006 values Retail store revenue growth is 1. 5 times the 2006 values Internet sale is 1. 5 times SGAEIncrease by 20% SW increase by 150% Scenario IIIRejection of offer, 10% growth in Sales and COGS remains the same SGAEIncrease by 10% SW Increase by 10% Assumptions: 1Average unit retail sale price is as Unit sale pric e of signature product 2Due assumption 2, average unit cost has been considered as per unit COGS. Source: West Lake Home Furnishings Ltd. Annual Reports (disguised)

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The natives of the Philippine islands already wore different types of clothing and ornaments before the arrival of Spanish colonizers. The men usually wore short-sleeved, collarless jackets that reached just below the waste. The jackets were also symbols of their status in the community. The chief usually wore red, for example. The bahag was worn for the lower part. It is a strip of cloth wrapped around the waist which passes between the things, leaving the thighs and legs exposed. A head gear or a putong is a piece of cloth wrapped around the head. This is also important like the color of the jacket. A red putong meant that the wearer has already gone to war and killed an enemy. An embroidered putong meant that the wearer has killed at least seven enemies. Adornments such as necklaces, armlets or kalombiga, anklets, earrings and rings were also worn. These were usually made of gold and other precious stones. Women also wore sleeved jackets called baro and skirts called saya or patadyong. Women fancied wearing ornaments as well such as gem-studded bracelets, necklaces, earrings, and rings. Tattoos Tattoos played an important part in the appearance of pre-Hispanic Filipinos both for the men and women. Tattoos were considered to be the equivalent of medals, one had to work for and earn it. The more tattoos a person had, the more impressive was his or her war record. The Visayas was known to be the Islas del Pintados or Islands of the Painted People because it was the there that the early Spanish colonizers observed very tattooed people and Spanish writers referred to them as the pintados, meaning â€Å"painted†.

Crimes of the Heart Essay

I choose Babe as the character that I would make a â€Å"through-line. † She has one of the more detailed and complex background stories. They are complex, because it is not extremely evident why they are significant. However, once one deeply analyzes her character, it becomes evident why these stories about her are so important in trying to understand Babe. Babe’s ultimate goal is to understand her complex reality. Unlike the other Magrath sisters, she has been deeply pondering the reason behind her mother’s suicide. She even goes so far as to think about it before each suicide attempt told in the novel. Each time, she feels closer to her mother due to her self-discoveries. For example, she is extremely happy to learn that her mother hung the old, yellow cat not out of hatred but out of fear of loneliness in the afterlife. She is also one of the few characters that try to understand Meg’s promiscuous and crazy personality. Babe describes the after affects Meg had after finding their mother dead. According to Babe, Meg would look at pictures of people diseased or in pain in order to prove that she was not weak. This desire to appear strong translated into other areas of Meg’s life. The way Babe tries to accomplish her goal of understanding her reality is by acting like a child. Babe sees the world through a child’s lens. She asks many questions, cannot control her emotions, and does not understand social norms. One example where she cannot control her emotions is when her sister is in the room and she tries to claw out the rope from the drawer. Rather than discreetly take the rope, she feels the need to claw it out and kill herself immediately. Similar to a child, she also does not understand social norms or their consequences. While Babe is pretty and has men after her such as the young lawyer, she prefers small children. Babe cares for and has sexual relations with a small boy, Willie Jae, who is only 15 years old. It seems she feels better connected with young children, versus adults her age. Additionally, Willie is African American. During such a time, having just contact between the two could have led to significant punishment for the both of them. Rather than simply understanding her situation, she appears oblivious to it. When Willie Jae must go north for protection, she asks why. It seems she does not completely understand the way certain races are viewed in society. Her act as a child saves her in the end. Her lawyer had a fanatical obsession with his personal vendetta against Zachary; however, he gave that up for her sake. He loved and cared for Babe’s child-like and kind personality. Babe has probably used her perceived child-like innocence before. As she tries to understand the world, her child-like characteristics both help her and are a detriment to her. Through-line: -Dad abandons her and her sisters Mother hangs herself in the cellar along with the old, yellow cat. Mother ends up on the national news -Grandfather calls her dancing sugarplum. -Marries Zachary while drunk. Grandfather believes she will become the top of society. -Is physically abused by her husband and pushed around by her sister-in-law, Lucille -Gets a dog called Dog from Willie Jae, 15 year-old African American boy. She has sexual intercourse in the garbage several times -Zachary comes home early and hits Willie Jae. Babe is suicidal, but instead tries to kill Zachary. Makes lemonade and then calls an ambulance.

Blindness in native son essays

Blindness in native son essays In Richard Wrights novel Native Son, the characters of Ma Thomas, Britten and Mary Dalton are blind to their surroundings. Ma Thomas does not want to admit her son performed an action that caused a tragedy for the Dalton family. For example, during a visit to Bigger in jail, Ma sees Mrs. Dalton and emotionally states: Please, Mam ... dont let em kill my boy! He aint never had a chance! Hes just a poor boy! (348). Ma is aware that her son is more than likely going to be sentenced to death because he murdered a white young lady, and later denied it by saying it was another man he had left her with. Ma becomes selfish when she approaches Mrs. Dalton pleading for her son not to be sentenced to death. Ma does not take into consideration all the heartbreak Bigger has put upon the Dalton family. In addition, Ma confronts Bigger and tells him to pray to God: your poor old Ma wants you to promise her... When aint nobody round you, when you alone, get on your knees and tell God everything. Ask him to guide you... son promise me youll go to him, (345). Ma wants nothing to happen to her son. Being blind to the emotions of others, Ma thinks that Bigger is the only person who is being affected. She forgets that the Daltons are the ones who lost a daughter because of Biggers action. Ma also feels that if her son were to turn to God, everything will be okay. In Mas opinion, even if Bigger were to be sentenced to death, if he has turned to God, a part of his soul would be saved. The Thomas family has had its share of hardships and this is just another obstacle they need to overcome. Britten is blind when he thinks that Bigger is not trustworthy because of the color of his skin. For example, when Mary was missing and Britten came into the Dalton house to question Bigger, Britten went straight to Peggy and asked: How ...

Leadership & Vision Essay Example | Topics and Well Written Essays - 500 words

Leadership & Vision - Essay Example Therefore, a vision that mainly reflects "vague dreams" or "thing(s) of imagination" may be detached from reality" (Bogler & Nir, 2001). "Leadership is reciprocal, occurring among people. Leadership is a people activity, distinct from administrative paper shuffling or problem solving activities. Leadership is dynamic and involves the use of power" (Daft, 1997). In order to involve and motivate the employees and to instill a sense of ownership among employees, organizations carry out many activities. Sharing the vision and goals of the company is one of the most practical and fruitful ways of instilling the sense of ownership among employees. This philosophy supported by a visionary leadership builds trust and trust further creates a sense of ownership. In the environment of trust and ownership, overall goals and objectives of the company are understood by the employees in a better way resulting in better performance not just by the employees individually but also collectively by the company or organization. Employees must be empowered to take action based on the basis of their understanding of different situations and scenarios within the organization. This empowerment will develop their problem solving skill and they will become a part of the big picture. This empowerment would not be possible without sound leadership.

International Financial management Essay Example | Topics and Well Written Essays - 2250 words - 1

International Financial management - Essay Example The report is divided into four broad sections, which include a brief overview of Leighton Holdings and its comparison with global competitors, commentary on the operating and financial issues of the company in light of selected ratios, an evaluation of currency management and overall performance of the company and recommendations for potential investors on the basis of analysis and evaluations carried out in this report. Leighton Holdings Limited, being amongst the largest international contractors around the world, was established in the year 1949 and is headquartered in Sydney. The company was listed on Australian Stock Exchange (ASE) in 1962 (Leighton Holdings, 2013; Yahoo Finance, 2013). The current business profile of Leighton Holdings Limited shows numerous operations, which include construction, development and maintenance of infrastructural facilities, mining, resource provision and real estate services (Leighton Holdings, 2013). In addition, the company also undertakes projects related to construction of road, railway networks, cleaning up of contaminated areas, disposal of waste, and other related services. Apart from the domestic Australian market, the operations of the company are also spread internationally, which include regions 20 countries in the Asian region, Middle Eastern region, southern parts of Africa and the neighbouring country New Zealand. In this table, it can be seen that Leighton Holdings Limited can be regarded as amongst leading international contractors. The ranking of Leighton Holdings Limited in relation to earnings per share ratio and long term growth rate of the company, is the best amongst the ratios listed in the table. However, the gap between performance indicators of Leighton Holdings Limited and industry leader is considerable in almost all of the indicators shown above. For the